GST must not be cut solely to stem the slowdown, says principal economic adviser Sanjeev Sanyal

Principal economic adviser Sanjeev Sanyal has called the current decline in the economy "a unique thing" in India’s history. In a conversation with Shereen Bhan at the National Management Convention organised by AIMA, Sanjeev Sanyal said that this time we are witnessing a "genuine demand driven" slowdown. He went on to add that the government was initiating measures to address the growth concerns but added that the easiest place to initiate a "virtuous cycle" would be the monetary side. The principal economic adviser also talked about the demand for GST reduction, and said that he was not in favour of GST cuts in response to a slowdown.